REPORT: WWE Has Been Sold To Saudi Arabia's Public Investment Fund
By Josh Martinez
January 11, 2023
After months of speculation, there has been several reports that the WWE has been sold to the Saudi Arabia Public Investment Fund. Rumors are swirling that the purchase will result in the WWE no longer being a publicly traded company, going private and giving Vince McMahon control. McMahon "retired" and control of the Television product went to his son-in-law Paul "Triple H" Levesque, which resulted in a better TV product and higher ratings. Earlier on Tuesday, Stephanie McMahon stepped down as co-CEO of World Wrestling Entertainment. A title she shared with now CEO Nick Khan.
Vince McMahon was unanimously voted back onto the Board of Directors for WWE after previously "retiring" last year after it was revealed he allegedly paid millions of dollars to women after sexual improprieties.
More info to come.
Sources: #WWE has been sold to
— Steven Muehlhausen (@SMuehlhausenJr) January 11, 2023
Saudi Arabia’s Public Investment Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative but it is expected by some people.
Saudi Arabia’s purchase of $WWE (still unconfirmed) raises many burning questions:
— Moonlight Graham (@ReeceKelleyG) January 11, 2023
1) How many employees and talents will flee the company?
2) How will women and LGBTQ persons that stay be treated?
3) What does this mean for media partners?
Just *some* of the big ones.
Bovada, which sent Fightful betting odds just hours ago on who would buy WWE, is no longer taking bets on it pic.twitter.com/PDU08Nm53X
— Sean Ross Sapp of Fightful.com (@SeanRossSapp) January 11, 2023
Also, if Saudi Arabia did indeed buy the company, that might explain why Stephanie McMahon stepped down. Just 5 days ago she tweeted about plans to be in London for Money In The Bank. Still waiting on WWE press release.
— Wrestling News (@WrestlingNewsCo) January 11, 2023
Update, here is what I’ve put together so far:
— Cassidy Haynes of Bodyslam.net (@Casshooole) January 11, 2023
The deal isn’t completely finalized because WWE must provide notice to shareholders & other parties. There are legalities to go through, as the company is publicly traded. But, again, I’m told a deal has been agreed to in principle.